New Mexico Mutual will use the solution to enhance its already dominant position in the New Mexico workers' comp market through identification of opportunities and precise pricing of risk.

By Anthony O'Donnell
insurancetech.com
March 23, 2010

Workers' compensation writer New Mexico Mutual (Albuquerque) has selected Valen's (Denver) UnderRight predictive analytics solution. Upon the completion of an implementation already underway, the carrier will benefit from greater insight into its data, resulting in more efficient pricing of risk, a Valen statement predicts.

New Mexico Mutual's seeks to enhance its already dominant position in the New Mexico workers' comp market, and the with the UnderRight solution the insurer expects to be able to both identify favorable growth opportunities and price them with greater precision.

"In addition to the power of Valen's UnderRight solution and the predictive analytics expertise of the Valen team, their software-as-a-service (SaaS) solution delivery was also key to our decision," comments Lou Volk, chief business officer, New Mexico Mutual. "Valen is well-known as the insurance industry's predictive analytics experts and their transparent approach to building our model enables us to fully understand the details of the model in order to effectively explain it to our underwriters and agents."

"We are confident in Valen's ability to help us meet our ambitious goals," Volk adds. "We are impressed with their dedication and their ability to leverage our data to ensure we are maximizing the value of predictive analytics."